Dear Wip,

1. Do you recommend a particular broker?

We recommend only ECN brokers.

Our first choice would be Pepperstone (Razor account).

Other options would be:
FinFX (ECN account), FXOpen (ECN), HotForex (Currenex), SynergyFX.

A good broker (with low spreads) and a cash back system (recover a part from the money paid to the broker as a Spread or commission) can increase the profit by 30%.

You can make a live forward test on few preferred brokers on demo accounts to see which one is better. The differences are visible on demo accounts also.

2. Does the base currency of the account matter?

The base currency shouldn't matter.

3. I have the Robot running on the EURUSD pair only. Should it run on multiple pairs for better performance? If yes does it need the 11 currency pairs?

You can use any pair you want.

Each pair has good periods and bad periods. All pairs are profitable in the long term and used together generate a constant gain and a moderate draw down.

We believe that diversification is the safest method of investment, so we prefer to use as many pairs as possible, of course, proved that they are profitable in the long run.


Thank you for your interest.

Kind regards,
Adrian.
ForexRealProfitEA Team

Dear Star,

We sent a message to Myfxbook support team regarding this problem.
It should be fixed soon.

Kind regards,
Adrian.
ForexRealProfitEA Team

Hi Adrian,

Thank you for your prompt answer! I have setup two tests accounts on 6 currency pairs using your EA.
One with an ECN broker the other with a normal broker with the invisible mode on.

Can you also confirm if in this account you have set the 'avoid news' setting to true ?

I see that ALL currency pairs are in state:

'Recent or upcoming news detected no new position will be opened'

It has been like that for the last couple of hours. Can yo confirm this is correct?

What also confuses me is that some Pairs (ex USDCAS & EURGBP) have the 'Trade session' as closed whereas others (ex EURCHF & GBPCHF) have the 'Trade Session' as open. To what is that linked? I guess not to the news ?

I'm really new to all this so I'm sorry for my 'basic' questions. Hopefully this will help other newbies 😄

Thanks,

Wip

Dear Wip,

1. Can you confirm if in this account you have set the 'avoid news' setting to true ?

Yes, we use the default settings an AvoidNews set to 'true' on this account.

2. I see that ALL currency pairs are in state:
'Recent or upcoming news detected no new position will be opened'
It has been like that for the last couple of hours. Can you confirm this is correct?

Yes.

About AvoidNews:
When set to 'true', AvoidNews stops the trading if high impact news are detected one hour before or one hour after a trading signal occurs. In other words, if high impact news is detected between 21:00 and 22:00 GMT no trades will be opened that day.
For example, if at a given day high impact news occurs at 20:15 GMT and ForexRealProfitEA has a trading signal at 21:14 GMT that trade will not be opened. On the contrary, if it has a trading signal at 21:16 GMT the trade will be opened because it has been one hour and one minute since the high impact news.

3. What also confuses me is that some Pairs (ex USDCAS & EURGBP) have the 'Trade session' as closed whereas others (ex EURCHF & GBPCHF) have the 'Trade Session' as open. To what is that linked? I guess not to the news ?

FRPEA v6.04 uses 4 different strategies, 2 for scalping on Asian session and 2 for scalping on trend all day.
Not all 11 currencies use all strategies, that's why there are differences between currencies regarding their trading time.

Each pair has good periods and bad periods. All pairs are profitable in the long term and used together generate a constant gain and a moderate draw down.
We believe that diversification is the safest method of investment, so we prefer to use as many pairs as possible, of course, proved that they are profitable in the long run.

You will find more details of how each currency performs on long term on our Backtest_Details PDF file.

4. I'm really new to all this so I'm sorry for my 'basic' questions. Hopefully this will help other newbies.

It's better to ask first if you have little experience.
Only trading real money on long term on forex can make you an experienced trader.
We learned from our mistakes too.
You can't win with a bad strategy, but you can lose with a good strategy if it's misused and experience can help you to take better decisions...

Kind regards,
Adrian.
ForexRealProfitEA Team

.

Hi Adrian,

I'm running the EA on two different accounts and six pairs. One ECN broker (PepperStone) with the Invisible mode to 'False' and a Standard Broker with the invisible mode to 'True'. Interestingly their trading results are very different.

Would you like me to make those portfolios public ?

Best Regards,

Wip

Dear Wip,

Yes, there are big differences between brokers, especially between MBTrading and Pepperstone (in our case). That is because the differences between the price feed, the spread and the commission. The spread is included in the robot code and it is used as an indicator.

We made a backtest with our jforex version of the robot on Dukascopy and the backtest result was almost identical with Alpari UK, better then MBTrading and worse than Pepperstone, that means that Pepperstone account is doing better than the backtest results...

Regarding MBTrading, I don't know if that's a rule, but as I see on FPA brokers reviews, old and famous brokers tend to worsen their services over time.

We just started a live test on demo accounts on our preferred brokers, to see which one is the best for our robots. The brokers are: FinFX (ECN account), ATCBrokers, HotForex (Currenex account), Oanda, FXOpen (ECN account) and Alpari UK (Spread Betting account).
The differences are visible on demo accounts also.
The statements will be published on our forum by the end of this month.

Ultimately, we are here to make profit trading on forex and not to trade with a specific broker. So if there is a broker with better results than other, why not chose the better one?


Yes, you can make those statements public, there is no problem with that.
It is important though to use the default settings, or, well, without much deviation from these settings and all 11 currencies.
And it is important also to run MT4 platform on a computer always connected to the Internet or on a VPS. If the robots are stopped during the day, or if they are interrupted while the market is open, the test is irrelevant.


Kind regards,
Adrian.
ForexRealProfitEA Team

is it verion 7?

I mean updated to version 7 or is it v.6